Instacart (CART) Gives Mixed Outlook Despite Resilient Grocery Demand
Instacart posted strong revenue in the third quarter, a sign of resilience in its core grocery delivery business. However, it forecast adjusted earnings in the current period that fell short of analysts’ expectations.Revenue for the three months ending Sept. 30 grew 12% to $852 million, the San Francisco-based company said Tuesday in a shareholder letterBloomberg Terminal. Analysts were expecting $843.6 million, according to Bloomberg-compiled estimates. Its gross transaction value of $8.3 billi...
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